Wolters Kluwer’s Annual Indicator Survey Shows Significant Risk, Compliance Concerns for U.S. Lenders
Summary
“That said, respondents expressed their highest levels of confidence in the past four years regarding their organizations’ ability to manage risk across all business lines.” Burniston will share insights on this year’s Indicator survey findings in a webinar, “Annual Survey Results Signal Direction for Banking Industry,” 2-3 p.m. EST Wednesday, Dec. 16, along with Wolters Kluwer Senior Specialized Consultant Elaine Duffus and Steven D’Alfonso, Research Director, IDC Financial Insights. “The input from our survey respondents reflects another year of challenges for the U.S. banking industry as it navigates through the tumultuous impacts of the pandemic--and accompanying regulatory changes,” said Steven Meirink, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions. Respondents also expressed a high level of concern about their ability to comply with Bank Secrecy Act/Anti-Money Laundering requirements, fair lending laws and regulations, Current Expected Credit Losses (CECL) standards, and possible beneficial ownership rule changes. Wolters Kluwer’s GRC division provides an array of expert solutions to help U.S financial institutions manage regulatory and risk obligations, including customized offerings to address COVID-19 challenges. Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors.